NO. 35


Financial and Banking News

Aid Flows

US Aid To Egypt

The US has granted Egypt $400mn to encourage the latter's economic reformprogram. A US Agency for International Development (USAID) official said thatthe grant was part of the $815mn in development aid offered annually byWashington to Cairo. The cash transfer covered allocations for 1994 and 1995.

Egypt has been receiving around $2.1bn annually from the US Government in aidsince it signed the peace treaty with...